Nigeria’s equities market halts four day bearish run as ASI adds 0.71%
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
Investors in Nigeria’s equities resumed trading upbeat in Monday to halt four consecutive days of downward movement.
The All Share Index advanced by 0.71%, while the YtD return on the index stood at -13.73 percent.
The market likewise witnessed increased activity as the value of stocks traded on the floor of the exchange increased by 18.13 percent to N4.17 billion.
The increase was equally attributable to renewed buying activity in bellwether stocks. However, total volume declined marginally by 3 percent to 251 million units.
A review of index performers shows the bankers topped the gainers list, up by 1.34 percent, as a result of renewed bargain buying interest in tier one lenders.
The oil and gas sector posted an uptick of 0.50 percent, while the high cap index (NSE 30) advanced 0.18%.
Leading the losers was the Insurance sector (-2.41%), trailed by the Consumer goods (-1.59%) and the Industrial goods (-0.25%).